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Of Course This Is Not the First Time

Trading 101 | January 16th, 2009

  • http://michaelcovel.com Michael Covel

    Lex clearly knew of the Turtles.

  • Lamont

    Wow! I’m at a complete lost for words that these people are trading from the news. You can read in a book how a trader, bank or hedge fund went bust but to actually witness a flawed strategy being used is insane. Just picking up a news paper burns my corneas from all the death and despair articles. I would call that Lex guy an idiot but he knows what “32*32=” So what can I say…

  • Stephen Rega

    Where can I sign up? I want to learn from the ground up. I can multiply numbers in my head with ease and I handle stress with ease.

  • Derrick

    A response from a “trader” to my commentary Michael,

    My post on Yahoo Finance Board (wasteland) (RIMM) :

    “If you are long RIMM under 40, you are happy, if you are short at 40-45 you are down. All the “noise” on these boards amaze me, no real insight, a lot of name calling, and useless drivel. The trend is your friend, plain and simple. Who cares why a stock is going up ? If you bought RIMM at 30, 35, or even 45 Congrats ! All the shorts explaining “why” it should go down, that’s like explaining why a supermodel should sleep with you, she’s just not going to, no particular reason, it’s just not happening.”

    Response from trader :

    “Oh gee….thank you for your words of wisdom.

    Now get off your soapbox, and take your preaching someplace where someone actually cares what you have to say.

    Instead of judging everyone else, why don’t you add something of value.
    IDIOT”

    LOL ! Why was this trader so upset at the commentary ? Could it be he doesn’t understand trend following ?

  • George

    I do not understand why being able to answer 32*32 in your head is a good question to use in order to screen potential candidates. If mathematics is the true road to riches in this game then LTCM should still be here shouldn’t they?

    What he should have asked them is more questions concerning their psychology and their understanding of the psychology of the market.

  • Timm Krebsbach

    To whom it may concern

    I like to know if this program is going to continue?

    Sincerely,
    Timm


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